Manchester United’s hope of a £4bn Saudi takeover are over as Mohammed bin Salman closes in on £300m Newcastle deal
Saudi Crown Prince Mohammed bin Salman is set to buy Newcastle for £300m putting an end to Manchester United’s hopes of a £4billion buy by the Saudi Prince according to a new report by the Daily Mail UK.
Bin Salman was strongly linked with buying Manchester United in October 2018 and the rumors increased in the summer when fans started online campaigns protesting against Manchester United’s American owners the Glazier brothers.
But on Tuesday, a £300m deal for Amanda Staveley to buy Newcastle from Mike Ashley was put in place, with Staveley having the backing of Salman’s Saudi Arabia’s Public Investment Fund, which will take an 80 per cent stake in the club.
In November 2019, Manchester United’s director Richard Arnold was pictured on social media meeting Saudi delegates in the country but denied that the meeting had any connection to a Saudi buy then United chief executive Ed Woodward told club fanzine ‘United We Stand’ that the Glazers were planning far into the future at Old Trafford.
‘Based on what I see, they’re in it for the long-term,’ Woodward said. ‘With regards to offers or asking prices, my understanding is that there have been no discussions for a price for the club or anything like that.
‘Every conversation we have is based on the long-term.’
If Bin Salman completes the buying of Newcastle, it will put an end to Mike Ashley’s unpopular 13-year reign as Newcastle owner.
